Medco

Medco Health Solutions, Inc., based in Franklin Lakes, New Jersey, is a large U.S. mail order pharmacy and pharmacy benefits management company. Customers can get their prescriptions through a network of 60,000 pharmacies or by using the internet. The company manages drug benefits for corporations, unions, insurance companies, and federal employees.

In 2006, sales were US$42.5 billion with profits of US$630 million. Top competitors are CVS Caremark Pharmacy Services and CIGNA.

Political contributions
Medco gave $279,500 to federal candidates in the 2006 election through its political action committee - 28% to Democrats and 71% to Republicans.

Lobbying
Medco Health Solutions spent $890,000 for lobbying in the first half of 2007.

Personnel
Key executives and 2006 pay:
 * David B. Snow, Jr., Chairman and Chief Executive Officer, $8,610,000 (2007)
 * Bryan D. Birch, Group President, Employer Accounts, $2,306,744
 * John P. Driscoll, President, Insured and Emerging Markets, $1,873,581
 * Kenneth O. Klepper, Chief Operating Officer, $4,117,601 (also exercised $2,005,313 in options)
 * JoAnn A. Reed, Chief Financial Officer, $1,793,013

Selected members of the Board of Directors:
 * Howard W. Barker, Jr., Former partner at KPMG
 * Michael Goldstein, Former Chief Executive Officer Toys "R" Us
 * Myrtle Potter, Also Director Amazon.com, Former Chief Operating Officer Genentech

Contact details
100 Parsons Pond Drive Franklin Lakes, NJ 07417 Phone: 201-269-3400 Fax: 201-269-1109 Web: http://www.medco.com

Related SourceWatch articles

 * Pharmaceutical industry

External articles

 * "Medco Health to Settle Complaints", Associated Press/CorpWatch, April 27, 2004.
 * Milt Freudenheim, "Caremark to Settle Whistle-Blower Suit", The New York Times/CorpWatch, September 9, 2005.
 * Barbara Martinez, "Selling Generic Drugs by Mail Turns Into Lucrative Business", Wall Street Journal/CorpWatch, May 9, 2006.
 * Raymond Hernandez and Robert Pear, "Once an Enemy, Health Industry Warms to Clinton", The New York Times/CorpWatch, July 12, 2006.

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